motor insurance product

1. Launch of New Policy Type
Higher Risk Car
Insurance Policy
Confidential
1

2. What is Higher Risk Car
Insurance?
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 Higher Risk Car insurance is designed for
customers with 2 or 3 AF Claims.
 CCEs are allowed to issue policy with 2 or 3 AF claims
under Higher Risk Car Insurance
 Taking into consideration of 1 Main Driver(MD) + up to
2 Named Drivers(ND)
 We ONLY accept drivers who are 30 years old and
above. Any driver below 30 will NOT be allowed

3. Features of Higher Risk Car
Insurance?
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 Cover Type: Comprehensive + Named Driver Plan
only
• No option for TPFT/TPO
• No Authorised Driver plan
 Policy Excess - $3000+GST
• No buying up/down option
• No waiver of excess for Any Workshop option
 NO NCDP (NCD Protector)
 Allow ONLY 1 MD + up to 2 ND
 NO Auto Renewal flag

4. Features of Higher Risk Car
Insurance?
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 UW Questionnaire:
• Note that with the launch of HR Car insurance, we have revised
some of the UW questions, especially questions on accident
and/or claims.
• CCE to go through the questions as per IDIT:
For standard Car Insurance, no driver has been involved in 2 or
more at-fault accidents and/or claims in the last 3 years from
the start of the proposed policy. For Higher Risk Car Insurance,
no driver has been involved in 4 or more at-fault accidents
and/or claims in the last 3 years from the start of the proposed
policy. Important Note: Under our standard Car Insurance
Authorised Driver Plan, we do not cover any driver (including
any unnamed driver authorised by you to drive your car) with 2
or more at-fault accidents and/or claims in the last 3 years.

5. Snip of UW Questions listed in
IDIT
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6. Features of Higher Risk Car
Insurance?
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 Endorsement:
• CANNOT change from Standard to Higher Risk or vice versa
• CCE to cancel and reissue a fresh policy
 Cancellation clause applicable for 2nd claim
• CCE to inform cm that policy will be cancelled with 7 days
notice once a 2nd claim is submitted during the policy term.
• (i.e. policy start 1 Mar 2022, 1st claim on 1st May, 2nd claim on 1
Jul, we will cancel the policy with 7 days notice)
 Cancellation by PH:
• No change in cancellation
process

7. System Behavior for
Higher Risk Car Insurance?
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IDIT will take care of the following:
 Trigger UW irregularity for cases with more than 3 AF
Claims
 Combine/Add total AF claims for all driver(s) level
(MD+ND) named under the policy to decide on policy type
(Higher Risk or Standard)
 Higher Risk Flag will be checked if criteria for higher risk
car are met.
• Driver level: If any 1 driver (MD/MD) has 2 or 3 AF claims in the
last 3years
• Policy level: If total number of AF claim under the policy is 2 or 3
in the last 3 years

8. Risk Acceptance for AF/NAF
Claims or Accidents (Driver
Level)
Number of Accidents or Claims (AF/NAF) in the last 3
years
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No. of AF/NAF
At Fault
(AF)
Not At Fault
(NAF)
Plan Type / Action
up to 3 0 3 SC
> 3 0 >3 SC / Escalate
1 1 0 SC
2 2 0 HR
3 3 0 HR
Standard Car Insurance = SC
Higher Risk Car Insurance = HR

9. Risk Acceptance for AF/NAF
Claims or Accidents (Policy
Level)
Number of Accidents or Claims (AF/NAF) in the last 3 years
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No. of AF/NAF
At Fault
(AF)
Not At Fault
(NAF)
Plan Type / Action
up to 3 0 3 SC
> 3 0 >3 SC - Escalate
1 1 0 SC
2 (1 AF + 1 NAF) 1 1 SC
3 (1 AF + 2 NAF) 1 2 SC
4 (1 AF + 3 NAF) 1 3 SC
>4 (1 AF + >3 NAF) 1 >3 SC - Escalate
2 2 0 HR
3 3 0 HR
3 (2 AF + 1 NAF) 2 1 HR
4 (2 AF + 2 NAF) 2 2 HR
4 (3 AF + 1 NAF) 3 1 HR
>4 (2 AF + > 2 NAF) 2 3 HR - Escalate
>4 (3 AF + > 1 NAF) 3 2 HR - Escalate

10. System Behavior for Renewal of
Higher Risk Car Insurance
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IDIT will take care of the following:
 Combine/Add total AF claims reported in driver(s) list +
internal claims reported (if any), taking into consideration
if any new driver is added or removal of existing driver
upon renewal
 Standard car policy will automatically be switched to
Higher Risk Car proposal on renewal without issuing new
quotation based on the claims/accidents logic.
• NCDP & Auto Renewal will be removed automatically
• Renewal will be invited based on Comprehensive, Named Driver
Plan only

11. System Behavior for Renewal of
Higher Risk Car Insurance
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IDIT will take care of the following:
 Renewal Endorsements:
 System will NOT support conversion from HR to SC and
vice versa
• System will block the endorsement process
• CCE to cancel and re-issue

12. Comparison Table:
Standard & Higher Risk Car
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Standard Car Higher Risk Car
Covers Comprehensive, TPFT and TPO Comprehensive Only
Age requirement MD age 25 and above All drivers must be 30 years old and above
Max number of AF claim 1 up to 3
Driver Plans Authorised Driver Plan and Named Driver Plan Named Driver Plan only
Max number of drivers MD + up to 8 Named Drivers MD + up to 2 Named Drivers
Standard Policy Excess $600 (opt to reduce/increase from 0 to 3000) $3,000 (no option to buy down)
Waiver of Excess
Applicable if PH purchase Any Workshop
Optional Cover
Not applicable even with Any Workshop optional
cover purchased
Optional Cover NCDP
Applicable for customer with NCD 30% and
above
Not available even for customer with NCD 30% and
above
Additional conditions
applied
Any driver with 2 or more AF claim in last 3 years
must be named as either MD or ND in order to
be covered under policy even if driver is
authorised by PH to drive under Any Driver Plan
BDI reserve the right to cancel policy with 7 days'
notice once 2nd AF claim is reported under policy

13. New fields in IDIT
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Take note of Higher risk flag, look out for the system behavior when
no. of AF is 2 or more

14. New fields in IDIT
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Higher risk Flag is automatically check
Look out for the alert message when AD plan is selected…

15. New fields in IDIT
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To proceed, click ok to re-select Driver Plan

16. New fields in IDIT
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Do you think I can proceed with 2 AF+ 3NAF???

17. New fields in IDIT
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The answer is Yes? No?
How about Cover type? Comp/TPFT/TPO?
Let’s see if there’s alert message…

18. New fields in IDIT
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To proceed, click ok to re-select cover type cos only Comprehensive is allowed

19. New fields in IDIT
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CCE to go through the optional benefits
What should be the policy excess for HR?
Can we select Auto Renewal?

20. New fields in IDIT
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CCE to go through the optional benefits
NO option to check for Auto Renewal
What should be the policy excess for HR???
Let’s see if there’s alert message…

21. New fields in IDIT
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To proceed, click ok and change the policy amount to $....?

22. New fields in IDIT
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Note that premium should not change when excess is adjusted from $600 to
$3000 under Higher Risk Car policy.
Do alert us if there is premium adjustment and do not proceed to quote as we
need to rectify.

23. New fields in IDIT
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Can I proceed?

24. New fields in IDIT
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Can I proceed?
See if there’s alert message

25. New fields in IDIT
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Click ok and select the reason to proceed

26. New fields in IDIT
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Select for UW review and email SG_UW, cc SG_CC_TL

27. New fields in IDIT
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Click Finish to save proposal for UW review

28. New fields in IDIT
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29. New fields in IDIT
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Let’s do a 2AF+0NAF

30. New fields in IDIT
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Premium adjusted due to no. of NAF (3NAF>0NAF)
Can I proceed to confirm or need to escalate? – 2AF0NAF

31. New fields in IDIT
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32. New fields in IDIT
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33. New fields in IDIT
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34. New fields in IDIT
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35. Sample copy of CI
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Policy
plan/cover will
read as:
Higher Risk
Comprehensive
Car policy

36. Sample copy of Policy Schedule
Confidential 36

37. Questions?
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Please practice using IDIT UAT to familiarize with the new fields
Email your questions to SG_CC_TL
We will collate and share during BP

38. Confidential 38